FCC Aims to double revenues by 2008

Spanish construction group Fomento de Construcciones y Contratas SA (FC) said Thursday it plans to double revenue and earnings by 200, noting in a presentation that it wants to double revenues by Euro 10-1bn by April 2008. Earnings before interest, taxes, depreciation and amortization, or EBITDA, should rise to Euro1.4-1.bn.

It also reiterated that it plans to invest Euro3bn in acquisitions. FCC wants to increase its international operations to represent 35-40 per cent of revenues. A unit of FCC recently launched an Euro 248.3m takeover bid for local cement producer Cementos Lemona SA.